The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive it every weekend in your inbox. Hello readers: Welcome to The Station, your central hub for all past, present and future means of moving people and packages from Point A to Point B. Before… Continue reading The Station: An ADAS business bidding war, the gig worker fight heats up and Biden’s executive order
Tag: Lyft
Uber and Lyft say drivers are earning more than $35 an hour in some cities as the companies scramble to recruit them back
Uber and Lyft are recovering from the COVID-19 pandemic as they push to regrow their fleet of US drivers. Incentives and benefits programs, along with increased COVID safety measures, are fueling drivers’ return to the app. The companies are citing higher hourly wages for their drivers, though they have oversold earnings to their drivers in… Continue reading Uber and Lyft say drivers are earning more than $35 an hour in some cities as the companies scramble to recruit them back
Lyft’s $20 per month membership program gets new bike-share benefits and an annual plan
Lyft is boosting its $19.99-per-month Lyft Pink membership program with new bike-share benefits and an annual option that’s cheaper than paying for the service month to month, the company announced Thursday. Lyft Pink’s primary benefit is a 15 percent discount on car rides, but previously, it also offered three free 30-minute bike or scooter rides… Continue reading Lyft’s $20 per month membership program gets new bike-share benefits and an annual plan
Autos & TransportationUber posts $509 mln adjusted loss on driver incentives even as trips riseAugust 4, 2021
A screen displays the company logo of Uber Technologies Inc on the day of its IPO at the New York Stock Exchange (NYSE) in New York, U.S., May 10, 2019. REUTERS/Brendan McDermid Aug 4 (Reuters) – Uber Technologies Inc (UBER.N) on Wednesday reported widening losses as it spent more to entice drivers to return to… Continue reading Autos & TransportationUber posts $509 mln adjusted loss on driver incentives even as trips riseAugust 4, 2021
Uber CEO calls Massachusetts gig economy ballot measure the ‘right answer’
Uber CEO Dara Khosrowshahi expressed his support Wednesday for a ballot initiative in Massachusetts that would keep gig economy workers classified as independent contractors, fulfilling a promise he made nearly a year ago to push for laws that preserve its business model. “In the state of Massachusetts, we think the right answer is our IC+… Continue reading Uber CEO calls Massachusetts gig economy ballot measure the ‘right answer’
Uber shares fall despite revenue beat as its core operations continue to lose money
The company reaffirmed Q4 adjusted profit target, swung to positive net income thanks to investments Alex Wilhelm Kirsten Korosec 8 hours Today after the bell U.S. ride-hailing giant Uber reported its second-quarter financial results. The company’s numbers come a day after its domestic rival, Lyft, shared its own Q2 earnings. Notably while Lyft managed to… Continue reading Uber shares fall despite revenue beat as its core operations continue to lose money
Technology · August 3, 2021 · 10:57 PM UTCLyft posts adjusted profit ahead of target, but warns of driver shortage, Delta threatLyft Inc (LYFT.O) on T…
The Lyft Driver Hub is seen in Los Angeles, California, U.S., March 20, 2019. REUTERS/Lucy Nicholson Aug 3 (Reuters) – Lyft Inc (LYFT.O) on Tuesday posted an adjusted quarterly profit three months ahead of target, seizing on a leaner cost structure as rides rebounded, but it warned of ongoing driver shortages and the spread of… Continue reading Technology · August 3, 2021 · 10:57 PM UTCLyft posts adjusted profit ahead of target, but warns of driver shortage, Delta threatLyft Inc (LYFT.O) on T…
Lyft reaches adjusted profitability milestone despite continuing net losses
Today after the bell, U.S. ride-hailing company Lyft reported its second quarter financial performance. In aggregate the company’s performance was a rebound from the year-ago second quarter, which was heavily impacted by the onset of the COVID-19 pandemic and resulting lockdowns in the United States. Lyft also managed to produce positive adjusted EBITDA in the… Continue reading Lyft reaches adjusted profitability milestone despite continuing net losses
Autos & TransportationUber, Lyft seen boosted by return of riders, but driver shortage, stubborn virus cloud outlook3:03 PM UTC
A sign marks a rendezvous location for Lyft and Uber users at San Diego State University in San Diego, California, U.S., May 13, 2020. REUTERS/Mike Blake/File Photo Aug 2 (Reuters) – Ride hailing companies Uber Technologies Inc (UBER.N) and Lyft Inc (LYFT.O) promised Wall Street they would be back on the road to profitability and… Continue reading Autos & TransportationUber, Lyft seen boosted by return of riders, but driver shortage, stubborn virus cloud outlook3:03 PM UTC
@GM: BrightDrop Appoints New Executives to its Leadership Team
BrightDrop Appoints New Executives to its Leadership Team New chief technology, product, people and revenue officers bring extensive experience in technology and software to BrightDrop’s growing team 2021-07-20 DETROIT – BrightDrop today named four new executives to its leadership team, appointing Anthony Armenta as chief technology officer, Rachad Youssef as chief product officer, Shaluinn Fullove as chief… Continue reading @GM: BrightDrop Appoints New Executives to its Leadership Team